I am certain this play on the saying “a rising tide lifts all boats” has been used before, but it is too apt in this case to pass over. When practicing bankruptcy law, you get to place your finger on a certain pulse in the economy. Despite the belief by many that...

Rather, understand the lack of a relationship between assets and debts. This is a fundamental concept to grasp in bankruptcy. It is easiest to demonstrate this concept with a Chapter 7 bankruptcy. Two important goals in the bankruptcy process are (1) getting rid of as...

Filing bankruptcy to save your home from foreclosure is an option that is a useful and powerful feature of the automatic stay, particularly in Chapter 13. A mistake I see is repeatedly filing bankruptcies to stop foreclosure. The bankruptcy code addresses repeated...

Here is a common scenario. The founders of a company get a loan for their business and give a lien to the lender on the piece of property owned by the company. The lender requires a personal guarantee from the business owners. Something bad happens with the business,...

Keeping a credit card in bankruptcy is more challenging than you might guess. Before breaking this down any further, we should distinguish credit cards from ATM/debit cards that are connected to your checking and savings accounts. ATM/debit cards are not closed by the...